Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Concorde Financial Corp

Concorde Financial Corp trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,980 shares of the construction company's stock after selling 742 shares during the period. Martin Marietta Materials comprises about 1.9% of Concorde Financial Corp's investment portfolio, making the stock its 26th biggest position. Concorde Financial Corp's holdings in Martin Marietta Materials were worth $3,088,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Crestline Management LP purchased a new position in shares of Martin Marietta Materials in the fourth quarter valued at $5,527,000. Camrose Capital Investment Partners LLP bought a new position in Martin Marietta Materials during the fourth quarter valued at $9,990,000. Cetera Investment Advisers grew its stake in shares of Martin Marietta Materials by 10.0% in the 4th quarter. Cetera Investment Advisers now owns 9,282 shares of the construction company's stock worth $4,794,000 after buying an additional 847 shares in the last quarter. Centiva Capital LP increased its holdings in shares of Martin Marietta Materials by 45.1% in the 4th quarter. Centiva Capital LP now owns 7,837 shares of the construction company's stock worth $4,048,000 after buying an additional 2,435 shares during the last quarter. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Martin Marietta Materials during the 4th quarter valued at about $475,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Up 0.0 %

NYSE:MLM traded up $0.05 on Friday, reaching $541.61. The stock had a trading volume of 320,149 shares, compared to its average volume of 485,713. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23. The stock has a market cap of $32.65 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average of $491.51 and a 200 day moving average of $529.49.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm earned $1.93 EPS. Martin Marietta Materials's quarterly revenue was up 8.2% on a year-over-year basis. On average, research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. Martin Marietta Materials's dividend payout ratio (DPR) is 18.20%.

Insider Buying and Selling at Martin Marietta Materials

In related news, SVP Michael J. Petro purchased 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the transaction, the senior vice president now owns 8,985 shares of the company's stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the transaction, the executive vice president now owns 3,523 shares of the company's stock, valued at $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MLM shares. Barclays cut their target price on Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Seaport Res Ptn upgraded Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Stephens lowered their target price on shares of Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus upped their price target on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Morgan Stanley boosted their price objective on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the company an "overweight" rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $599.69.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.